RPM beats estimates on higher sales

10:23 AM MDT | July 22, 2013 | Vincent Valk

RPM today reported fiscal fourth-quarter net income down 20.8% year-on-year (YOY), to $65.4 million, on sales up 6.3%, to $1.17 billion. Excluding $42.7 million in special charges, adjusted net income totaled $95.4 million, or 72 cts/share, up 15.5%. Special charges in the quarter include a write-down of an Indian investment and an agreement with the US government related to roofing contracts from 2002 to 2008. Adjusted earnings beat analysts’ consensus estimate of 67 cts/share, as reported by Thomson Reuters (New York). RPM’s fiscal fourth-quarter...